Bitdeer raises $179 million to accelerate ASIC chip development

TechFlow news, April 22 — According to MinerMag, Bitcoin mining company Bitdeer has increased its financial leverage by raising $179 million to accelerate its ASIC chip manufacturing operations. Per its latest annual report, the company secured a credit facility of up to $200 million from affiliate Matrixport (of which $43 million has been drawn), and obtained $17 million in unsecured loans from commercial banks. Additionally, Bitdeer raised $572.5 million through issuing convertible senior notes and $118.8 million by issuing over 6 million Class A shares. These funds will be used to expand its SEALMINER product line, including chip production and tape-out costs paid to TSMC, aiming to challenge industry leaders Bitmain and MicroBT in market position.